Chewy's (CHWY) "Market Outperform" Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market outperform rating on shares of Chewy (NYSE:CHWY - Free Report) in a research note published on Monday morning,Benzinga reports. JMP Securities currently has a $37.00 price objective on the stock.

CHWY has been the subject of several other research reports. Raymond James cut Chewy from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 21st. Morgan Stanley upped their target price on shares of Chewy from $33.00 to $36.00 and gave the company an "overweight" rating in a report on Monday, November 25th. The Goldman Sachs Group lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, December 5th. Citigroup upgraded shares of Chewy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $24.00 to $28.00 and gave the stock a "hold" rating in a research report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $34.60.

Chewy Trading Up 4.0 %

NYSE:CHWY traded up $1.27 during mid-day trading on Monday, hitting $33.54. The stock had a trading volume of 5,324,737 shares, compared to its average volume of 8,590,020. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The company has a market capitalization of $14.02 billion, a PE ratio of 36.85, a PEG ratio of 4.28 and a beta of 1.12. The stock has a 50-day simple moving average of $30.73 and a two-hundred day simple moving average of $27.82.

Chewy (NYSE:CHWY - Get Free Report) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. Sell-side analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now owns 585,962 shares of the company's stock, valued at approximately $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 47,956,046 shares of company stock worth $1,448,008,845 over the last 90 days. Company insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in Chewy by 23.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company's stock valued at $652,000 after acquiring an additional 4,613 shares during the last quarter. Raymond James & Associates increased its stake in shares of Chewy by 23.7% during the 2nd quarter. Raymond James & Associates now owns 96,887 shares of the company's stock worth $2,639,000 after purchasing an additional 18,586 shares in the last quarter. First Horizon Advisors Inc. acquired a new position in shares of Chewy during the 2nd quarter worth approximately $48,000. 1620 Investment Advisors Inc. purchased a new stake in Chewy in the 2nd quarter valued at approximately $33,000. Finally, MN Wealth Advisors LLC purchased a new position in Chewy during the second quarter worth $259,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.